Cycle & Carriage Bintang Bhd's (CCB) share price extended its losses on Monday, July 26 after investors were disappointed over the dividends declared in the second quarter (2Q) ended June 30, 2010.
At 9.42am, CCB was down 32 sen to RM5.82 with 152,200 shares traded.
Last week, CCB reported a net profit of RM5.88 million in the second quarter (2Q) ended June 30, 2010, down 46% from the RM10.89 million a year earlier when there was a one-off refund on duties.
It declared an interim dividend of 5.0 sen a share compared with RM1.25 a year ago.
Revenue in 2Q rose 30% to RM161.02 million from RM123.8 million, while basic earnings per share (EPS) fell to 5.84 sen from 10.82 sen. It declared an interim dividend of five sen per share.
For the first half, net profit fell 19% to RM12.63 million from RM15.51 million a year earlier, while revenue rose 29% to RM307.67 million from RM239.12 million. EPS fell to 12.54 sen from 15.4 sen.
Written by Surin Murugiah
The Edge Malaysia
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